Chapter 13 Bankruptcy
Navigating Chapter 13 Bankruptcy
Creating a Repayment Plan
Chapter 13 Bankruptcy allows individuals with a regular income to develop a plan to repay all or part of their debts. The repayment plan, lasting three to five years, must be approved by the court and is based on your income, living expenses, and debt types.
Eligibility Criteria
Eligibility for Chapter 13 includes having sufficient income to meet your repayment plan, unsecured debts below a certain threshold, and secured debts under a separate threshold. You must also be up-to-date on your tax filings.
Benefits
Chapter 13 can stop a foreclosure, allowing you to catch up on missed mortgage payments. It also lets you keep your property, including non-exempt assets, and may reduce your overall debt obligation. Additionally, the completion of the payment plan may lead to the discharge of remaining eligible debts.
Schedule Your Free Consultation
Bankruptcy
Contact us today for a free consultation
Greensburg Office
206 N. Main St.
Greensburg, PA 15601
Uniontown Office
45 E. Main St.
Suite 400 Uniontown Pa, 15401